Digital mortgages

The use of rent data in credit models is allowing people with low credit scores or thin credit files to get loans. But consumer advocates warn the use of that data could harm the very people it’s supposed to help. 

The use of rent data in credit models is allowing people with low credit scores or thin credit files to get loans. But consumer advocates warn the use of that data could harm the very people it’s supposed to help. 

The partnership, which is expected to ease lending for bank statement loans, comes as the non-QM sector runs into headwinds.

UpEquity reportedly saw its growth projections decimated by the cooling refinance market and terminated positions in anticipation of a tepid fundraising environment.

The new product is an extension of its FraudGuard offering for the first lien mortgage market.

The firm cut staff from junior to senior employees in nearly every department and is left with a 325-worker headcount, a spokesperson confirmed.

The lender also announced its acquisition of Florida-based Hamilton Home Loans, which will operate as a new division within the company.

The ability to produce a cohesive, visible audit trail is “like nirvana” for lenders, ICE Mortgage Technology Vice President Christopher McEntee said.

It’s tempting to add yet another screen or an external piece of software, but that’s not always the quickest path to success, writes a director at InRule Technology.

With large banks establishing strong security infrastructure, cybercriminals are eyeing smaller and mid sized companies as their next victims.

With Digital Asset Registration Technologies, lenders can avoid duplication errors and riskier arrangements with multiple parties on the platform, its creators say.

The repository is a "single source of truth" lenders can use to learn about aspects of digital mortgage acceptance including by jurisdiction and wholesale lender.

The company partially backed by Wells Fargo will integrate the technology in its point of sales software, which they say is used by more than 350 institutions.

The company founded by former Zillow executives added jumbo loans in January and hinted at additional product offerings in the near future.